Lawrence McKibben is preparing a valuation of Tele Norte Leste Participaces SA(NYSE.TNE), a telecom services company headquartered in Rio de Janeiro, Brazil. McKibben has decided to use a three-stage FCFE valuation model and the following estimates. The FCFE per share for the current year is $0.75. The FCFE is expected to grow at 10 percent for next year, then at 26 percent annually for the following three years, and then at 6 percent in Year 5 and thereafter. TNE's estimated beta is 2.00( remains constant) and McKibben feels that current market conditions dictate a 4.5 percent risk-free rate of return and a 5.0 percent equity risk premium. Given McKibbens assumptions and approach. answer the following

1- what is the cost of equity for Tele Norte?

2- what is FCFE in year 1 ?

3- what is FCFE in year 4?

4- what is the terminal value at the end of year 4 ?

5- what is the current stock price of Tele Norte?